My Learning Cart

What is the primary accounting standard governing amalgamation?

Practice Questions

Q1
What is the primary accounting standard governing amalgamation?
  1. IFRS 3
  2. IAS 2
  3. GAAP
  4. IFRS 10

Questions & Step-by-Step Solutions

What is the primary accounting standard governing amalgamation?
  • Step 1: Understand what amalgamation means. Amalgamation is when two or more companies combine to form one new company.
  • Step 2: Learn about accounting standards. These are rules that companies follow to keep their financial records.
  • Step 3: Identify the relevant accounting standard for amalgamation. The standard that covers this is called IFRS 3.
  • Step 4: Know that IFRS 3 specifically deals with business combinations, which includes amalgamation.
No concepts available.
Soulshift Feedback ×

On a scale of 0–10, how likely are you to recommend The Soulshift Academy?

Not likely Very likely